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2023
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Exports $621MRnk 55 / 142
2023
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Top Product $105MNitrogen Heterocyclic Compounds
2023
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Exports $580MRnk 30 / 199
2023
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Top Product $367MCorn
2023
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Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
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Economic Complexity (ECI) ECI 1.02Rnk 28 / 132
2023
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GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
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GDP GROWTH25%CURRENT US$
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2023
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 GDP$351BCURRENT US$
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2013-2023
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GDP GROWTH84.8%CURRENT US$
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2023
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GDP PC $33,121CURRENT US$
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2013-2023
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GDP PC GROWTH21.9%CURRENT US$
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2023
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GDP PC$18,404CURRENT US$
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2013-2023
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GDP PC GROWTH93.8%CURRENT US$
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About

South Korea-Romania Trade: In 2023, South Korea exported $621M to Romania. The main products that South Korea exported to Romania were Nitrogen Heterocyclic Compounds ($105M), Coated Flat-Rolled Iron ($54.8M), and Integrated Circuits ($21.8M). Over the past 5 years the exports of South Korea to Romania have increased at an annualized rate of 4.55%, from $497M in 2018 to $621M in 2023.

In 2023, South Korea did not export any services to Romania.

Romania-South Korea Trade: In 2023, Romania exported $580M to South Korea. The main products that Romania exported to South Korea were Corn ($367M), Wheat ($44.6M), and Motor vehicles; parts and accessories (8701 to 8705) ($23M). Over the past 5 years the exports of Romania to South Korea have increased at an annualized rate of 7.8%,  from $398M in 2018 to $580M in 2023.

In 2020, Romania exported services to South Korea worth $20.1M, with Computer and information services ($10.9M), Other business services ($5.48M), and Transportation ($3.08M) being the largest in terms of value.

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Romania ranked 28 in the Economic Complexity Index (ECI 1.02), and 41 in total exports ($104B).

Latest Trends

December, 2024

About

Overview In December 2024, South Korea exported $44.1M and imported $49.8M from Romania, resulting in a negative trade balance of $5.64M. Between December 2023 and December 2024 the exports of South Korea have increased by $6.34M (16.8%) from $37.8M to $44.1M, while imports decreased by $-47.1M (-48.6%) from $96.8M to $49.8M.

Trade In December 2024, the top exports of South Korea to Romania were Iron & steel ($13.8M), Cars, tractors, trucks & parts thereof. ($9.82M), Machinery, mechanical appliances, & parts ($8.88M), Electrical machinery and electronics ($7.4M), and Plastics & articles thereof ($5.81M). In December 2024 the top imports of South Korea from Romania were Mineral fuels, mineral oils and products... ($25.6M), Cereals ($22.7M), Non-knitted clothing accesories ($14.9M), Electrical machinery and electronics ($5.48M), and Machinery, mechanical appliances, & parts ($4.45M).

Growth In December 2024, the increase in South Korea's year-by-year exports to Romania was explained primarily by an increase in product exports in Iron & steel ($10.1M or 269%), Machinery, mechanical appliances, & parts ($4.5M or 102%), and Electrical machinery and electronics ($4.36M or 143%). In December 2024, the decrease in South Korea's year-by-year imports  from Romania was explained primarily by an decrease in product imports  in Electrical machinery and electronics ($-6.44M or -54%), Machinery, mechanical appliances, & parts ($-5.56M or -55.6%), and Cars, tractors, trucks & parts thereof. ($-2.42M or -65.3%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)$6.34M(16.8%)
IMPORT GROWTH (December 2023 - December 2024)$-47.1M(-48.6%)

This section shows exports and imports data at subnational level for South Korea. Click any date in the line plot or any product to explore the exports or imports behavior of South Korea over time.

To check Romania and South Korea trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Romania and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $621M to Romania. The main products exported from South Korea to Romania were Nitrogen Heterocyclic Compounds ($105M), Coated Flat-Rolled Iron ($54.8M), and Integrated Circuits ($21.8M). During the last 5 years the exports of South Korea to Romania have increased at an annualized rate of 4.55%, from $497M in 2018 to $621M in 2023.

In 2018, Romania exported $580M to South Korea. The main products exported from Romania to South Korea were Corn ($367M), Wheat ($44.6M), and Motor vehicles; parts and accessories (8701 to 8705) ($23M). During the last 5 years the exports of Romania to South Korea have increased at an annualized rate of 7.8%, from $398M in 2023 to $580M in 2018.

Exports from South Korea (Flag) to Romania (Flag) (2023)

Exports from Romania (Flag) to South Korea (Flag) (2023)

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Romania
Top DestinationGermany$19.9B

This map shows whether countries import more from South Korea or Romania. Each country is colored based on the difference in imports they receive from South Korea and Romania or the difference in the growth in imports.

In 2023, countries that imported more from South Korea than Romania included China ($162B), United States ($118B), and Hong Kong ($28.8B).

In 2023, countries that imported more from Romania than South Korea included Germany ($19.9B), Italy ($10.2B), and Bulgaria ($4.03B).

Difference in imports from Romania (Flag) and South Korea (Flag) (2023)

Comparative Advantage South Korea - Romania

Flow
Scale

This chart compares trade between South Korea and Romania by product, considering products traded by both, South Korea and Romania.

During 2023, South Korea had a large net trade with Romania in the exports of Chemical Products ($152M), Metals ($138M), and Machines ($122M).

During 2018, Romania had a large net trade with South Korea in the exports of Vegetable Products ($412M), Machines ($76.8M), and Transportation ($23.4M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Romania+$43.4MCars
Top Product Potential Romania South Korea+$44.7MMotor vehicles; parts and accessories (8701 to 8705)

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

In 2020, Romania exported services to South Korea worth $20.1M, with Computer and information services ($10.9M), Other business services ($5.48M), and Transportation ($3.08M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Romania (Flag) to South Korea (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of South Korea and Romania. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Romania. Similarly, a dot/product with the flag of Romania indicates it has a comparative advantage over South Korea.

Product Space of South Korea (Flag) and Romania (Flag) (2023)

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